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whats the best interest rate avail for savings?

Discussion in 'Money Management' started by handyandy, 22nd May, 2008.

  1. handyandy

    handyandy Well-Known Member

    Joined:
    6th Jun, 2006
    Posts:
    312
    Location:
    Sydney Nsw
    Hi All

    Just looking around for the best (highest) interest rate available at call.

    So far these are my findings

    St George - 7% (very hard to determine as rate not readily available)
    Bank West - 7.6%
    Rabobank - 7.3% (promotion until 31 July 7.8%)
    INGDirect - 6.9% (7.9 Bonus unitl September)


    Any others I should consider?

    Cheers

    Seems that Rabo has done the work already. I guess as long as they beat everybody else.

    Compare online high interest savings accounts - RaboPlus
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

    Joined:
    9th Jun, 2005
    Posts:
    4,623
    Location:
    Sydney, Australia
    ING Direct - 7.9% for new customers until 30 Sept
    NAB iSaver - 7.05% (great if you already bank with NAB - instant money transfer in/out)

    ... or use InfoChoice to compare them all:

    InfoChoice

    According to InfoChoice, BankWest have their TeleNet Saver promo running until 1/1/2009 of 8.25%

    ... and I think Citibank have an 8% product

    We do have a list of some high interest savings accounts here: Special Offers - Savings Accounts
     
    Last edited: 22nd May, 2008
  3. Billv

    Billv Getting there

    Joined:
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    Location:
    Sydney, NSW
    Members equity bank

    Members Equity Bank :: Online Savings Account

    Earn a competitive 7.50% p.a. on every dollar in your account with interest calculated daily
    No bank fees
    No minimum opening deposit or balance required
    No set term - deposit and withdraw without penalty at any time
    Convenient 24/7 access to your account via internet and phone banking
    Free phone and internet banking services
     
  4. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
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    Location:
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    dragondirect -

    Unfortunately at the moment they don't have the usual bonus rate.

    Cheers,

    Dan
     
  5. lilly_star

    lilly_star New Member

    Joined:
    26th May, 2008
    Posts:
    3
    Location:
    Queensland
    Bankwest best at the moment

    At the moment Bankwest has the Telenet Saver which, until January 1 2009, will give you 8.25%.
    There is no minimum deposit requirement and no exit fee and after Jan 1 it goes down to 7.25% which is still quite competitive.

    Second best is Citibank which is at 8% the only downfall is the initial deposit must be 10,000 or more. Good if you have it but bad if you don't.

    My partner and I currently have a telenet account and when the promotional 8.25% ends we will have over 10,000 so we will then change to the Citibank saver account (unless of course a better one comes to our attention)

    On the other hand if you do have quite a bit of money for an initial deposit and don't really require it immediately you could always look at term deposits. Elders Rural Bank has a 90 day term deposit at 8.40% and Bank of Queensland has a 180 days term deposit at 8.45%

    Hope I was some help
     
  6. busselton

    busselton New Member

    Joined:
    7th Jun, 2006
    Posts:
    3
    Location:
    Perth
    Check out the Cannex site for a comparison of Interest rates:

    - - >>> CANNEX - Home